---
title: Fixed Assets
description: "Track equipment and property you own: the register, every field on an asset, running depreciation, and viewing depreciation history."
url: "https://theasst.com/docs/fixed-assets/"
updated: "2026-10-06"
category: Accounting
---

# Fixed Assets

Fixed Assets tracks equipment and property your company owns for its own use (not to sell) — their cost, accumulated depreciation, and status.

## Where Fixed Assets Come From

Fixed assets aren’t added directly here — they’re created from an [Inventory](https://theasst.com/docs/inventory/) lot’s own **Convert to Fixed Asset** action (for something you bought to use rather than resell), or imported from QuickBooks (see [QuickBooks Import](https://theasst.com/docs/quickbooks-import/)).

## The Asset Register

![Fixed Asset list with Name, Serial#, Cost, Accum. Depr., and Status columns](https://theasst.com/wp-content/uploads/2026/09/fixedasset-list.webp)

Columns: **Name**, **Serial#**, **Cost**, **Accum. Depr.** (depreciation so far), and **Status**. Click an asset to open it. The sidebar has **Asset Register**, **Run Depreciation**, and **Depreciation History**.

## The Asset Page

- **Asset#** and **Name** (required), and **Serial#**.
- **Cost basis** — what the asset cost. **Use tax accrued** — any use tax recorded with it.
- **Qty** — how many units this record covers.
- **Placed in service** — the date depreciation starts.
- **Useful life (months)** (required) — how long the asset is depreciated over.
- **Salvage value** — what it is expected to be worth at the end. It is not depreciated.
- **Depreciation method** — straight-line (equal amounts each month).
- **Fixed Asset account** (required), **Depreciation Expense account**, and **Accumulated Depreciation account** — the G/L accounts the asset and its depreciation post to (see [G/L Accounts](https://theasst.com/docs/g-l-accounts/)).
- **Accumulated depreciation to date** — what has been depreciated so far.
- **Status** — Active, Disposed, or Sold. When you dispose or sell an asset, enter the **Disposal date** and **Disposal amount**.
- **Notes**, **Site**, **Purchased from** (the vendor or bill it came from), and **Originally item** (the item it was converted from).

Click **Save** to keep changes. **Delete asset** removes the record; if it was converted from inventory before any depreciation posted, the stock goes back into inventory.

## Depreciation

- **Run Depreciation** — enter a **Run date**. TBA calculates depreciation for every active, not-yet-fully-depreciated asset through that date and posts one balanced entry (debit Depreciation Expense, credit Accumulated Depreciation) to the [General Ledger](https://theasst.com/docs/general-ledger/). Re-running for the same date is safe: assets already posted for that date are skipped.
- **Depreciation History** — every past run, so you can review what was posted.